Transocean Ltd. - FORM 8-K - EX-99.1 - TRANSOCEAN LTD. FLEET STATUS REPORT

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8-K - FORM 8-K - Transocean Ltd.	d8k.htm

Exhibit 99.1

LOGO

Fleet Status

Report

July 13, 2011

Transocean Ltd. (NYSE: RIG), (SIX: RIGN)


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned «


														Dayrate on			Dayrate on
			Yr. ⁽¹⁾	Water	Drilling			Estimated						Current			Previous
	Floater		Entered	Depth	Depth			Contract			Estimated			Contract ⁽³⁾			Contract ⁽³⁾			Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type		Service	(Feet)	(Feet)	Location	Customer	Start Date ⁽²⁾			Expiration Date ⁽²⁾			(Dollars)			(Dollars)			Q2 2011		Q3 2011		Q4 2011		Q1 2012

*Rigs Under Construction (3)*

Keppel FELS Super B Class Jackup TBN1			TBA	350	35,000	Thailand	Chevron		See Footnote 12			See Footnote 12			See Footnote 12			N/A			—		—		—		—
Keppel FELS Super B Class Jackup TBN2			TBA	350	35,000	Thailand	Chevron		See Footnote 13			See Footnote 13			See Footnote 13			N/A			—		—		—		—
Transocean Honor			TBA	400	30,000	See Footnote 14	See Footnote 14		See Footnote 14			See Footnote 14			See Footnote 14			N/A			—		—		—		—

*High Specification Floaters:*
*Ultra-Deepwater (27)*

Discoverer Americas⁽⁶⁾	ship	«	2009	12,000	40,000	USGOM	Statoil		Mar-11			Apr-14			486,000			486,000			—		—		—		—
Deepwater Champion ^(6), (11)	ship	«	2011	12,000	40,000	Turkey/Black Sea	ExxonMobil		May-11			May-12			690,000			N/A			—		—		—		—
		«				TBA	ExxonMobil		May-12			Dec-15			TBA			690,000
Discoverer Clear Leader^(6), (15)	ship	«	2009	12,000	40,000	USGOM	Chevron		Sep-10			Jul-14			504,000			503,000			6		—		—		—
Discoverer Inspiration⁽⁶⁾	ship	«	2010	12,000	40,000	USGOM	Chevron		Sep-10			Feb-15			506,000			494,000			—		—		—		—
Dhirubhai Deepwater KG1⁽¹⁶⁾	ship	«	2009	12,000	35,000	India	Reliance		Aug-09			Jul-14			510,000			N/A			—		8		—		11
Dhirubhai Deepwater KG2 ⁽¹⁶⁾	ship	«	2010	12,000	35,000	India	Reliance		Mar-10			Feb-15			510,000			N/A			2		—		—		11
Discoverer India⁽¹⁷⁾	ship	«	2010	12,000	40,000	India	Reliance		Dec-10			Aug-11			508,000			N/A			—		—		—		—
						USGOM	Reliance		Aug-11	⁽²⁹⁾		Feb-13	⁽³⁰⁾		508,000			508,000
						India	Reliance		Mar-13			Nov-20			508,000			508,000
Petrobras 10000 ^{(6), (7), (8)}	ship	«	2009	12,000	37,500	Brazil	Petrobras		Feb-11			Aug-19			445,000			N/A			—		—		—		—
Discoverer Deep Seas⁽⁶⁾	ship	«	2001	10,000	35,000	USGOM	Chevron		Feb-11			Feb-13			450,000			517,000			—		—		—		—
Discoverer Enterprise⁽⁶⁾	ship	«	1999	10,000	35,000	USGOM	BP		Jan-11			Aug-12			435,000			523,000			—		—		—		—
Discoverer Spirit⁽⁶⁾	ship	«	2000	10,000	35,000	USGOM	Anadarko		Apr-11			Jun-11			540,000			507,000			22		31		—		—
						Liberia	Anadarko		Jun-11			Aug-11			547,000	⁽²⁶⁾		540,000
						Sierra Leone	Anadarko		Aug-11			Nov-11			545,000	⁽²⁶⁾		547,000	⁽²⁶⁾
						Liberia	Chevron		Nov-11			Mar-12			564,000	⁽²⁶⁾		545,000	⁽²⁶⁾
						USGOM	Anadarko		Mar-12			Apr-14			540,000			564,000	⁽²⁶⁾
GSF C.R. Luigs⁽⁶⁾	ship	«	2000	10,000	35,000	USGOM	BHP Billiton		Sep-09			Feb-14			519,000			411,000			—		—		—		—
GSF Jack Ryan ⁽⁶⁾	ship	«	2000	10,000	35,000	Nigeria	Total		Jun-09			Jul-13			425,000			297,000			19		—		—		—
Deepwater Discovery ^(6), (7)	ship	«	2000	10,000	30,000	Brazil	Devon		Oct-09			Aug-13			463,000			425,000			91		10		—		—
Deepwater Frontier ⁽⁶⁾	ship	«	1999	10,000	30,000	Australia	ExxonMobil		Sep-11			Nov-13			475,000			477,000			30		92		7		—
Deepwater Millennium⁽⁶⁾	ship	«	1999	10,000	30,000	Ghana	Anadarko		Nov-10			Jul-11			576,000			543,000			13		—		37		—
						Brazil	Anadarko		Jul-11			May-13			561,000	⁽⁷⁾		576,000
Deepwater Pathfinder ⁽⁶⁾	ship	«	1998	10,000	30,000	USGOM	Eni		Aug-10			Apr-15			667,000			550,000			—		—		—		—
Deepwater Expedition ⁽⁶⁾	ship	«	1999	8,500	30,000	Malaysia	Petronas/ BHP		Dec-10			Jan-14			640,000			375,000			—		—		—		—
Cajun Express^{(6), (7), (18)}	semi	«	2001	8,500	35,000	Brazil	Petrobras		May-10			Jun-13			546,000			493,000			—		—		—		—
Deepwater Nautilus⁽⁶⁾	semi		2000	8,000	30,000	USGOM	Shell		Dec-08			Aug-12			548,000			493,000			—		—		—		—
GSF Explorer	ship	«	1972/1998	7,800	30,000	Indonesia	Marathon-led Consortium		May-10			Jul-12			510,000			426,000			6		—		—		—
Discoverer Luanda ^(6), (16)	ship	«	2010	7,500	40,000	Angola	BP		Jan-11			Jan-18			430,000			N/A			—		—		—		—
GSF Development Driller I ⁽⁶⁾	semi	«	2005	7,500	37,500	USGOM	BHP Billiton		Jun-08			Oct-12			513,000			220,000			—		—		—		—
GSF Development Driller II ⁽⁶⁾	semi	«	2005	7,500	37,500	USGOM	BP		Nov-08			Nov-13			580,000			208,000			—		—		—		—
Development Driller III ⁽⁶⁾	semi	«	2009	7,500	37,500	USGOM	BP		Nov-09			Nov-16			403,000			N/A			—		—		—		—
Sedco Energy	semi	«	2001	7,500	35,000	Ghana	Tullow		Aug-11			Aug-13			440,000			N/A			91		72		—		—
Sedco Express ⁽⁶⁾	semi	«	2001	7,500	35,000	Israel	Noble Energy		Sep-10			Dec-11			530,000			188,000			—		—		—		—
						Israel	Noble Energy		Dec-11			Mar-12			470,000			530,000
						Israel	Israel Oil Company		Mar-12			May-12			490,000			470,000

												Total Estimated Days Out of Service									280		213		44		22

												Estimated Average Contract Dayrate⁽⁵⁾								$	517,000	$	516,000	$	513,000	$	518,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned «


													Dayrate on			Dayrate on
			Yr. ⁽¹⁾	Water	Drilling			Estimated					Current			Previous
	Floater		Entered	Depth	Depth			Contract		Estimated			Contract ⁽³⁾			Contract ⁽³⁾			Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type		Service	(Feet)	(Feet)	Location	Customer	Start Date ⁽²⁾		Expiration Date ⁽²⁾			(Dollars)			(Dollars)			Q2 2011		Q3 2011		Q4 2011		Q1 2012
*Deepwater (16)*

Deepwater Navigator ^(7), (8)	ship	«	1971/2000	7,200	25,000	Brazil	Petrobras		May-11		Feb-16	⁽²⁷⁾		381,000			190,000			91		87		—		—
Discoverer 534	ship	«	1975/1991	7,000	25,000	Malaysia					Stacked									—		—		—		—
Discoverer Seven Seas	ship	«	1976/1997	7,000	25,000	India	ONGC		Jul-08		Jul-11			316,000			292,000			—		—		—		—
Transocean Marianas^(6), (28)	semi		1979/1998	7,000	25,000	Ghana	Eni		Feb-11		Dec-12			450,000			565,000			4		1		—		—
Sedco 706 ^(6), (7)	semi	«	1976/1994/ 2008	6,500	25,000	Brazil	Chevron		Apr-09		Apr-14			311,000			N/A			—		—		14		—
Sedco 702 ^(6), (7)	semi	«	1973/2007	6,500	25,000	Nigeria	Shell		Mar-08		Feb-12			354,000			N/A			10		—		14		48
Sedco 707 ^(7), (8)	semi	«	1976/1997	6,500	25,000	Brazil	Petrobras		Nov-09		Nov-14	⁽²⁷⁾		407,000			188,000			—		—		—		25
GSF Celtic Sea	semi		1982/1998	5,750	25,000	Angola	ExxonMobil		May-11		Jul-12			320,000			486,000			91		22		—		—
						Angola	ExxonMobil		Jul-12		Jul-13			324,000			320,000
						Angola	ExxonMobil		Jul-13		Jul-14			328,000			324,000
Jack Bates	semi		1986/1997	5,400	30,000	Australia	Hess		Sep-11		Apr-12			380,000			420,000			32		87		—		—
Sedco 709	semi	«	1977/1999	5,000	25,000	Malaysia					Stacked									—		—		—		—
M.G. Hulme, Jr. ⁽⁷⁾	semi		1983/1996	5,000	25,000	India	ONGC		Sep-11		Sep-12			260,000			N/A			—		—		—		—
Transocean Richardson	semi		1988	5,000	25,000	Malaysia					Stacked									—		—		—		—
Jim Cunningham	semi		1982/1995	4,600	25,000	Malaysia					Stacked									—		—		—		—
Sedco 710 ^(7), (8)	semi	«	1983/2001	4,500	25,000	Brazil	Petrobras		Oct-10		Oct-16	⁽²⁷⁾		293,000			128,000			34		59		—		—
Transocean Rather	semi		1988	4,500	25,000	Angola	ExxonMobil		Sep-10		May-11			428,000			257,000			—		—		—		—
									May-11		Jun-11			437,000			428,000
									Jun-11		Aug-11			256,000			437,000
									Aug-11		Sep-12			437,000			256,000
Sovereign Explorer	semi		1984	4,500	25,000	USGOM					Stacked									—		—		—		—


									Total Estimated Days Out of Service											262		256		28		73

									Estimated Average Contract Dayrate⁽⁵⁾										$	370,000	$	360,000	$	360,000	$	357,000


*Harsh Environment (5)*

Henry Goodrich ⁽⁶⁾	semi		1985/2007	5,000	30,000	Canada	Husky		Oct-10		Jan-14			335,000			381,000			—		—		15		84
Transocean Leader ^(6), (7)	semi		1987/1997	4,500	25,000	NNS	Statoil		Sep-09		Feb-12			471,000			340,000			—		—		—		—
									Feb-12		Feb-15			405,000			471,000
Paul B. Loyd, Jr. ^(6), (7)	semi		1990	2,000	25,000	UKNS	BP		Apr-09		Mar-12			510,000			312,000			24		—		—		—
									Mar-12		Mar-13			346,000			510,000
Transocean Arctic ^(6), (7)	semi		1986	1,650	25,000	NNS	Statoil		Jan-07		May-12			300,000			195,000			—		—		—		—
						NNS	Rig Management Norway		May-12		May-13			390,000	⁽²⁰⁾		300,000

						NNS	Rig Management Norway		May-13		Jan-14			395,000	⁽²⁰⁾		390,000	⁽²⁰⁾
Polar Pioneer ^(6), (7)	semi		1985	1,500	25,000	NNS	Statoil		Feb-10		Jan-14			516,000			309,000			—		—		—		—


									Total Estimated Days Out of Service											24		—		15		84

									Estimated Average Contract Dayrate⁽⁵⁾										$	427,000	$	426,000	$	431,000	$	438,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned «


											Dayrate on			Dayrate on
		Yr. ⁽¹⁾	Water	Drilling			Estimated				Current			Previous
	Floater	Entered	Depth	Depth			Contract		Estimated		Contract ⁽³⁾			Contract ⁽³⁾			Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type	Service	(Feet)	(Feet)	Location	Customer	Start Date ⁽²⁾		Expiration Date ⁽²⁾		(Dollars)			(Dollars)			Q2 2011		Q3 2011		Q4 2011		Q1 2012
*Midwater Floaters (25)*

Sedco 700	semi	1973/1997	3,600	25,000	Malaysia					Stacked								—		—		—		—
Transocean Legend	semi	1983	3,500	25,000	Aus./Timor Leste	Eni		Jun-10		Sep-11		298,000			300,000			31		—		—		—
Transocean Amirante	semi	1978/1997	3,500	25,000	Egypt	Burullus Gas Company		Aug-11		May-12		247,000			364,000			12		48		—		—
GSF Arctic I ^(6), (7)	semi	1983/1996	3,400	25,000	Brazil	Starfish		Jan-11		Jul-11		250,000			287,000			—		—		61		29
C. Kirk Rhein, Jr.	semi	1976/1997	3,300	25,000	Malaysia					Stacked								—		—		—		—
Transocean Driller ^(7), (8)	semi	1991	3,000	25,000	Brazil	Petrobras		Jul-10		Jul-16		269,000			116,000			—		—		—		—
GSF Rig 135	semi	1983	2,800	25,000	Nigeria	Addax Petroleum		Apr-11		Jun-11		264,000			N/A			6		—		—		—
					Nigeria	Addax Petroleum		Jun-11		Aug-11		254,000	⁽²⁴⁾		264,000
GSF Rig 140 ⁽⁶⁾	semi	1983	2,800	25,000	Eq. Guin.	ExxonMobil		Dec-09		Jul-11		435,000			256,000			—		66		14		—
Falcon 100^(7), (8)	semi	1974/1999	2,400	25,000	Brazil	Petrobras		Mar-08		Mar-13		263,000			180,000			91		84		—		—
GSF Aleutian Key	semi	1976/1999/ 2001	2,300	25,000	Gabon					Stacked								—		—		—		—
Sedco 703	semi	1973/1995	2,000	25,000	Malaysia					Stacked								—		—		—		—
Sedco 711⁽⁷⁾	semi	1982	1,800	25,000	UKNS	Shell		Jan-11		Oct-11		420,000			383,000			—		—		—		—
Transocean John Shaw ⁽⁷⁾	semi	1982	1,800	25,000	UKNS	Enquest		Jan-11		Jul-11		246,000			228,000			—		—		—		—
					UKNS	Enquest		Jul-11		Oct-11		255,000			246,000
GSF Arctic III	semi	1984	1,800	25,000	UKNS	ExxonMobil		Jul-10		Sep-11		254,000	^(6), (7)		N/A			—		—		—		—
					Ireland	Providence		Sep-11		Nov-11		250,000			254,000	^(6), (7)
Sedco 712	semi	1983	1,600	25,000	UKNS					Stacked								—		—		—		—
Sedco 714 ⁽⁷⁾	semi	1983/1997	1,600	25,000	UKNS	Total		Jun-11		Dec-11		254,000			256,000			—		—		—		—
GSF Grand Banks ^(6) (8)	semi	1984	1,500	25,000	Canada	Husky		Jan-11		Jan-13		298,000			356,000			—		—		—		55
Actinia	semi	1982	1,500	25,000	Malaysia					Idle								—		—		—		—
Sedco 601	semi	1983	1,500	25,000	Malaysia					Stacked								—		—		—		—
Sedneth 701	semi	1972/1993	1,500	25,000	Gabon	Harvest Natural Resources		Apr-11		Jul-11		210,000			N/A			23		—		—		—
Transocean Winner ^(6), (7)	semi	1983	1,500	25,000	NNS	Lundin		Apr-10		Oct-12		484,000			390,000			—		73		—		—
Transocean Searcher ^(6), (7)	semi	1983/1988	1,500	25,000	NNS	Statoil		May-09		Apr-12		435,000			395,000			—		—		—		—
					NNS	BG		May-12		Jul-13		380,000	⁽²⁵⁾		435,000
Transocean Prospect ⁽⁷⁾	semi	1983/1992	1,500	25,000	UKNS	Nexen		Jun-11		Feb-13		245,000			N/A			—		—		—		—
J.W. McLean	semi	1974/1996	1,250	25,000	UKNS					Stacked								—		—		—		—
Sedco 704	semi	1974/1993	1,000	25,000	UKNS	ADTI		Jan-11		Sep-11		See Footnote 9			417,000			—		—		—		—
					UKNS	ADTI		Sep-11		Oct-11		See Footnote 9			See Footnote 9
					UKNS	Premier Oil		Oct-11		Dec-11		255,000			See Footnote 9

								Total Estimated Days Out of Service										163		271		75		84

								Estimated Average Contract Dayrate⁽⁵⁾									$	321,000	$	300,000	$	313,000	$	336,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned «


											Dayrate on			Dayrate on
		Yr. ⁽¹⁾	Water	Drilling			Estimated				Current			Previous
	Floater	Entered	Depth	Depth			Contract		Estimated		Contract ⁽³⁾			Contract ⁽³⁾			Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type	Service	(Feet)	(Feet)	Location	Customer	Start Date ⁽²⁾		Expiration Date ⁽²⁾		(Dollars)			(Dollars)			Q2 2011		Q3 2011		Q4 2011		Q1 2012
*High Specification Jackups (9)*
GSF Constellation I ⁽⁶⁾		2003	400	30,000	Gabon	Total		Dec-10		Mar-12		100,000			110,000			—		—		—		—
					Gabon	Mitsubishi		Mar-12		May-12		140,000			100,000
GSF Constellation II ⁽²¹⁾		2004	400	30,000	Egypt	Pharonic Petroleum Company		Feb-10		Jan-12		109,000			194,000			—		—		—		63
GSF Galaxy I		1991/2001	400	30,000	UKNS					Stacked								—		—		—		—
GSF Galaxy II⁽⁷⁾		1998	400	30,000	UKNS	GDF Suez		Jul-11		May-12		170,000			N/A			62		—		—		—
GSF Galaxy III ^(6), (7)		1999	400	30,000	UKNS	Nexen		Oct-07		Sep-11		110,000			100,000			—		—		—		—
					UKNS	Nexen		Sep-11		Sep-12		147,000			110,000
GSF Baltic ^(6), (7)		1983	375	25,000	Nigeria	ExxonMobil		Jun-10		Jun-12		100,000			248,000			—		—		—		47
GSF Magellan		1992	350	30,000	Holland													91		20		—		—
GSF Monarch⁽⁶⁾		1986	350	30,000	Denmark	Maersk Oil		Jul-11		Jul-12		93,000			N/A			—		—		—		—
GSF Monitor		1989	350	30,000	Nigeria	Total		Mar-11		Jul-11		110,000			N/A			—		—		—		—

						Total Estimated Days Out of Service												153		20		—		110

						Estimated Average Contract Dayrate⁽⁵⁾											$	110,000	$	114,000	$	120,000	$	124,000

*Standard Jackups (51) - See Footnote 19*

Trident IX		1982	400	21,000	Malaysia	Petrofac		Jul-11		Jul-13		114,000			N/A			—		—		—		5
Trident 17		1983	300	25,000	Malaysia					Stacked								—		—		—		—
GSF Adriatic II		1981	350	25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic IX		1981	350	25,000	Nigeria	Afren		Jan-11		Jul-11		92,000			90,000			—		—		—		31
					Nigeria	Afren		Jul-11		Aug-12		100,000			92,000
GSF Adriatic X		1982	350	30,000	Nigeria	Addax Petroleum		Jun-11		Nov-11		110,000			N/A			45		—		—		—
GSF Key Manhattan		1980	350	25,000	Italy	Eni		Apr-10		Apr-13		137,000			N/A			—		—		—		—
GSF Key Singapore		1982	350	25,000	Egypt					Stacked								—		—		—		—
GSF Adriatic VI		1981	328	25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic VIII		1983	328	25,000	Gabon					Stacked								—		—		—		—
C.E. Thornton ⁽⁷⁾		1974	300	25,000	India	ONGC		Oct-08		Sep-11		132,000			45,000			—		—		—		—
D.R. Stewart		1980	300	25,000	Croatia					Stacked								—		—		—		—
F.G. McClintock		1975	300	25,000	India	ONGC		Oct-08		Sep-11		145,000			50,000			—		—		—		—
GSF Adriatic I		1981	300	25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic V		1979	300	25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic XI		1983	300	25,000	Malaysia					Stacked								—		—		—		—
GSF Compact Driller		1992	300	25,000	Thailand	Chevron		Oct-09		Apr-12		100,000	⁽²²⁾		196,000			3		—		—		—
								Apr-12		Dec-12		100,000			100,000	⁽²²⁾
GSF Galveston Key		1978	300	25,000	Vietnam	Cuu Long JOC		Mar-11		Nov-11		103,000			100,000			—		—		—		—
GSF Key Gibraltar ⁽²²⁾		1976/1996	300	25,000	Thailand	Chevron		Jul-11		Jun-14		105,000			N/A			60		—		—		—
GSF Key Hawaii		1982	300	25,000	Bahrain					Idle								—		—		—		—
GSF Main Pass I		1982	300	25,000	Saudi Arabia	Saudi Aramco		Jun-11		Sep-14		73,000			164,000			—		—		—		85
GSF Main Pass IV		1982	300	25,000	Saudi Arabia	Saudi Aramco		Jul-11		Oct-14		73,000			164,000			—		—		85		—
GSF Parameswara		1983	300	20,000	Indonesia	Total		Nov-09		Dec-12		122,000			168,000			—		—		—		—
GSF Rig 134		1982	300	20,000	Malaysia					Stacked								—		—		—		—
GSF Rig 136		1982/1999/ 2002	300	25,000	Malaysia					Stacked								—		—		—		—


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned «


												Dayrate on		Dayrate on
			Yr. ⁽¹⁾	Water	Drilling			Estimated				Current		Previous
	Floater		Entered	Depth	Depth			Contract		Estimated		Contract ⁽³⁾		Contract ⁽³⁾		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type		Service	(Feet)	(Feet)	Location	Customer	Start Date ⁽²⁾		Expiration Date ⁽²⁾		(Dollars)		(Dollars)		Q2 2011		Q3 2011		Q4 2011		Q1 2012
Harvey H. Ward			1981	300	25,000	Malaysia					Idle						—		—		—		—
Interocean III			1978/1993	300	25,000	Egypt					Stacked						—		—		—		—
J.T. Angel			1982	300	25,000	India	ONGC		May-10		May-13		65,000		N/A		11		—		—		—
Randolph Yost			1979	300	25,000	India					Stacked						—		—		—		—
Roger W. Mowell			1982	300	25,000	Malaysia					Stacked						—		—		—		—
Ron Tappmeyer			1978	300	25,000	India	ONGC		Jun-10		Jun-13		65,000		64,000		—		—		30		—
Transocean Shelf Explorer			1982	300	20,000	Malaysia					Stacked						—		—		—		—
Transocean Nordic			1984	300	25,000	Malaysia					Stacked						—		—		—		—
Trident 15⁽²³⁾			1982	300	25,000	Thailand	Chevron		Feb-10		Feb-12		100,000		100,000		—		—		—		—
									Feb-12		Jun-13		100,000		100,000
Trident 16 ⁽⁶⁾			1982	300	25,000	Malaysia	Petronas Carigali		Apr-11		Aug-11		180,000		189,000		—		—		—		—
Trident II			1977/1985	300	25,000	India	ONGC		Mar-10		Apr-15		78,000		140,000		—		—		14		—
Trident IV-A			1980/1999	300	25,000	Gabon					Stacked						—		—		—		—
Trident VIII			1981	300	21,000	Gabon	Perenco		Nov-10		Aug-11		85,000		83,000		—		16		19		—
						Gabon	Perenco		Oct-11		Apr-13		96,000		85,000
Trident XII			1982/1992	300	25,000	India	ONGC		May-10		May-13		65,000		140,000		20		—		—		14
Trident XIV⁽⁷⁾			1982/1994	300	25,000	Angola	Chevron		May-11		Nov-11		105,000		154,000		—		—		—		—
GSF High Island II			1979	270	20,000	Saudi Arabia	Saudi Aramco		Jul-11		Oct-14		73,000		164,000		—		—		—		85
GSF High Island IV			1980/2001	270	20,000	Saudi Arabia	Saudi Aramco		May-07		Jul-11		164,000		107,000		—		82		23		—
									Oct-11		Oct-14		73,000		164,000
GSF High Island V			1981	270	20,000	Gabon					Stacked						—		—		—		—
GSF High Island IX			1983	250	20,000	Ghana					Stacked						—		—		—		—
GSF High Island VII			1982	250	20,000	Nigeria	Afren		Dec-10		Oct-11		88,000		88,000		10		—		—		—
GSF Rig 103			1974	250	20,000	Egypt					Stacked						—		—		—		—
GSF Rig 105			1975	250	20,000	Egypt	Petrobel		Jan-11		Feb-12		62,000		112,000		—		—		—		—
GSF Rig 124			1980	250	20,000	Egypt	Petrobel		Jun-11		Aug-11		63,000		N/A		—		—		—		—
GSF Rig 127			1981	250	20,000	Bahrain					Stacked						—		—		—		—
GSF Rig 141			1982	250	20,000	Egypt	GUPCO		Jul-11		Jul-13		55,000		N/A		18		—		—		—
Transocean Comet			1980	250	20,000	Egypt	GUPCO		Sep-09		Sep-12		50,000		112,000		—		—		—		—
Trident VI			1981	220	21,000	Malaysia					Stacked						—		—		—		—

Total Estimated Days Out of Service																	167		98		171		220

Estimated Average Contract Dayrate⁽⁵⁾																$	111,000	$	93,000	$	87,000	$	85,000

*Swamp Barges (1) - See Footnote 19*

Hibiscus^{(6), (16)}			1979/1993	25	20,000	Indonesia	Total		Oct-07		Nov-12		72,000		74,000		—		6		1		—


Other (1)

Joides Resolution^{(6), (16)}	ship	«	1978	27,000	30,000	Worldwide	TAMRF		Jan-09		Nov-13		68,000		35,000		—		—		—		—


*Fixed-Price Options ⁽¹⁰⁾*
High Specification Floaters:
Ultra-Deepwater

Discoverer Enterprise⁽⁶⁾	ship	«	1999	10,000	35,000	USGOM	BP		Aug-12		Jan-13		435,000		435,000
GSF Explorer	ship	«	1972/1998	7,800	30,000	Indonesia	Marathon-led Consortium		Jul-12		Oct-12		510,000		510,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned «

Dayrate on

Yr. ⁽¹⁾

Water

Drilling

Estimated

Current

Previous

Floater

Entered

Depth

Contract

Estimated

Contract ⁽³⁾

Estimated Out of Service Days ⁽⁴⁾

Rig Type/Name

Type

Service

(Feet)

Location

Customer

Start Date ⁽²⁾

Expiration Date ⁽²⁾

(Dollars)

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Harsh Environment

Transocean Leader ^(6), (7)

semi

1987/1997

4,500

25,000

NNS

Statoil

Feb-15

Feb-16

405,000

471,000

Paul B. Loyd, Jr. ^(6), (7)

semi

1990

2,000

25,000

UKNS

Mar-13

Jun-13

346,000

Jun-13

Sep-13

346,000

Transocean Arctic ^(6), (7)

semi

1986

1,650

25,000

NNS

Rig
Management
Norway

Jan-14

Jan-15

399,000

⁽²⁰⁾

395,000

⁽²⁰⁾

Midwater Floaters

GSF Arctic III

semi

1984

1,800

25,000

Ireland

Providence

Oct-11

Dec-11

250,000

^(5),(6)

GSF Rig 135

semi

1983

2,800

25,000

Nigeria

Addax
Petroleum

Aug-11

Jan-12

254,000

⁽²⁴⁾

254,000

Transocean Searcher ^(6), (7)

semi

1983/1988

1,500

25,000

NNS

Jul-13

Jan-15

370,000

⁽²⁵⁾

380,000

Transocean Prospect ⁽⁷⁾

semi

1983/1992

1,500

25,000

UKNS

Nexen

Feb-13

Aug-13

245,000

High Specification Jackups

GSF Constellation II ⁽²¹⁾

2004

400

30,000

Egypt

Pharaonic
Petroleum
Company

Mar-12

Jun-12

115,000

109,000

Jun-12

Dec-12

110,000

115,000

GSF Galaxy III ^(6), (7)

1999

400

30,000

UKNS

Nexen

Sep-12

Mar-13

147,000

GSF Monarch⁽⁶⁾

1986

350

30,000

Denmark

Maersk Oil

Jul-12

Nov-12

92,000

93,000

Nov-12

Mar-12

92,000

Mar-12

Jul-13

92,000

Standard Jackups

GSF Adriatic X

1982

350

30,000

Nigeria

Addax
Petroleum

Nov-11

May-12

110,000

GSF Rig 124

1980

250

20,000

Egypt

Petrobel

Aug-11

Dec-11

63,000

Trident VIII

1981

300

21,000

Gabon

Perenco

Apr-13

Oct-13

Footnote 31

96,000

Other

Joides Resolution⁽⁶⁾

ship

1978

27,000

30,000

Worldwide

TAMRF

Nov-13

Sep-23

68,000

Revenue Efficiency

Revenue Efficiency is defined as actual contract drilling revenue divided by the highest amount of total contract drilling revenue which could have been earned during the relevant period(s) expressed as a percentage. Revenue Efficiency measures how much revenue we have earned against our maximum potential revenue per the contract. Revenue Efficiency does not apply during Out of Service Days (Shipyard, Mobilizations, Demobilizations, Contract Preparation). The following table has been restated for Caspian Sea discontinued operations.


	Q1 2011 Actual			Q4 2010 Actual			Q3 2010 Actual			Q2 2010 Actual			Q1 2010 Actual			Q4 2009 Actual			Q3 2009 Actual			Q2 2009 Actual
Ultra Deepwater		85.3	%		86.1	%		86.5	%		89.1	%		92.2	%		92.2	%		92.7	%		97.7	%
Deepwater		88.2	%		88.6	%		90.1	%		92.8	%		89.7	%		91.9	%		91.3	%		83.2	%
Harsh Environment Floaters		99.2	%		96.1	%		96.4	%		96.9	%		94.8	%		97.7	%		97.2	%		97.9	%
Midwater Floaters		93.6	%		85.0	%		96.2	%		93.9	%		94.7	%		95.1	%		97.4	%		91.9	%
High Specification Jackups		95.1	%		97.7	%		93.3	%		98.9	%		92.5	%		98.2	%		94.7	%		94.7	%
Standard Jackups		97.7	%		98.9	%		96.4	%		97.3	%		97.1	%		93.7	%		98.4	%		95.3	%
Others		99.0	%		96.1	%		99.6	%		98.5	%		99.5	%		98.7	%		84.8	%		99.5	%

Total Fleet		90.0	%		88.7	%		91.8	%		92.8	%		93.2	%		93.5	%		95.0	%		93.1	%


Estimated Contract Drilling Revenue can be calculated as:		Paid Days on Contract * Average Contract Dayrate * Revenue Efficiency


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold

Stacked Rigs


Rig Type/Name		Start Date
*Deepwater (5)*

Discoverer 534		6/16/2011
Sedco 709		Prior to 2010
Transocean Richardson		3/15/2011
Jim Cunningham		5/13/2010
Sovereign Explorer		11/1/2010

*Midwater Floaters (7)*

Sedco 700		Prior to 2010
C. Kirk Rhein, Jr.		Prior to 2010
GSF Aleutian Key		1/9/2010
Sedco 703		Prior to 2010
Sedco 712		Prior to 2010
Sedco 601		4/9/2011
J.W. McLean		4/13/2011

*High Specification Jackups (1)*

GSF Galaxy I		Prior to 2010

*Standard Jackups (22)*

Trident 17		Prior to 2010
GSF Adriatic II		Prior to 2010
GSF Key Singapore		10/21/2010
GSF Adriatic VI		Prior to 2010
GSF Adriatic VIII		7/3/2010
D.R. Stewart		8/7/2010
GSF Adriatic I		Prior to 2010
GSF Adriatic V		Prior to 2010
GSF Adriatic XI		Prior to 2010
GSF Rig 134		5/3/2010
GSF Rig 136		Prior to 2010
Interocean III		Prior to 2010
Randolph Yost		9/15/2010
Roger W. Mowell		8/29/2010
Transocean Shelf Explorer		Prior to 2010
Transocean Nordic		Prior to 2010
Trident IV-A		Prior to 2010
GSF High Island V		Prior to 2010
GSF High Island IX		Prior to 2010
GSF Rig 103		Prior to 2010
GSF Rig 127		Prior to 2010
Trident VI		Prior to 2010

*Idle Rigs*

Rig Type/Name		Start Date

*Standard Jackups (2)*

GSF Key Hawaii		6/6/2011
Harvey H. Ward		10/6/2010

*Midwater Floaters (1)*

Actinia		11/19/2010

Stacked and Idle rigs detailed above are not currently operating on contract. Start date denotes when rig commences idle or stacked status.

An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels. A “Stacked” rig, on the other hand, is manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity. However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking.


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: July 13, 2011
Revisions to Fleet Status Report Noted in Bold

Footnotes

⁽¹⁾	Dates shown are the original service date and the date of the most recent upgrade, if any.

⁽²⁾

As of April 2, 2009, Estimated Contract Start and Estimated Expiration Dates are calculated as follows: (1) for events estimated to occur between the 1st and 15th of a month, the previous month is reported (i.e. a contract which is estimated to commence on May 4, 2009 will be reported as commencing in April 2009) and (2) for events estimated to occur between the 16th and the end of a month, the actual month is reported (i.e. a contract which is estimated to commence on May 24, 2009 will be reported as commencing in May 2009). Expiration dates represent the company’s current estimate of the earliest date the contract for each rig is likely to expire. Some rigs have two or more contracts in continuation, so the last line shows the estimated earliest availability. Many contracts permit the customer to extend the contract.

⁽³⁾

Represents the full operating dayrate, although the average dayrate over the term of the contract will be lower and could be substantially lower. Does not reflect incentive programs which are typically based on the rig’s operating performance against a performance curve. Please refer to the “Customer Contract Duration and Dayrates and Risks Associated with Operations” section of the Disclaimers & Definitions for a description of dayrates. This column may not reflect the rate currently being received under the contract as a result of an applicable standby rate or other rate, which typically is less than the contract dayrate.

⁽⁴⁾

The out of service time represents those days where a rig is scheduled to be out of service and not be available to earn an operating dayrate. Please refer to the “Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation)” section of the Disclaimers & Definitions for a full description.

⁽⁵⁾	Estimated Average Contract Dayrate is defined as the average contracted full operating dayrate to be earned per revenue earning day. See note (3) for definition of full operating dayrate.

⁽⁶⁾	Reflects the current contracted dayrate which could reflect prior cost escalations and could change in the future due to further cost escalations.

⁽⁷⁾	Reflects the current contracted dayrate which is comprised of a foreign currency component and which could change due to foreign exchange adjustments.

⁽⁸⁾	Current contract provides for a bonus incentive opportunity not reflected in the stated current contract dayrate.

⁽⁹⁾

For the period of time that this rig is contracted to Applied Drilling Technology International, the drilling management services division of the company’s U.K. operating subsidiary, or Applied Drilling Technology Inc., the company’s U.S. drilling management services subsidiary, accounting rules require that we eliminate the revenues and costs related to those contracts from the contract drilling segment of the consolidated statement of operations. Revenues from turnkey contracts will be recognized in other revenues and are contingent upon successful completion of the well program.

⁽¹⁰⁾

Fixed price options may be exercised at the customer’s discretion. During periods when dayrates on new contracts are increasing relative to existing contracts, the likelihood of customers’ exercising fixed price options increases. During periods when dayrates on new contracts are decreasing relative to existing contracts, the likelihood of customers’ exercising fixed price options declines.

⁽¹¹⁾

Until May 2012, the Deepwater Champion will operate in Turkey (Black Sea) at $690,000. Subsequent operating location is yet to be determined, and the dayrate under the contract could change depending on the country of future operations. For example, the dayrate could change to $640,000 or $650,000 if the operating location of the rig is moved to the USGOM or Brazil, respectively.

⁽¹²⁾

We have been awarded a five-year drilling contract by Chevron which requires the construction and operation of a yet to be named Keppel FELS Super B Class Jackup. Operations are expected to commence during the first quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first 36 months of the contract, the contract dayrate is $135,000, excluding escalation. The dayrate may be adjusted for the remaining 24 months based on market dayrates within specific parameters.

⁽¹³⁾

We have been awarded a five-year drilling contract by Chevron which requires the construction and operation of a yet to be named Keppel FELS Super B Class Jackup. Operations are expected to commence during the third quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first 36 months of the contract, the contract dayrate is $135,000, excluding escalation. The dayrate may be adjusted for the remaining 24 months based on market dayrates within specific parameters.

⁽¹⁴⁾	In November 2010 we agreed to purchase a Pacific Class 400 design jackup to be named Transocean Honor. Construction of the jackup is expected to be completed in the fourth quarter of 2011. We are actively marketing the jackup.

⁽¹⁵⁾

Until August 2012, the contract dayrate is $469,000, subject to cost escalation. The dayrate for the remainder of the contract is linked to the standard West Texas Intermediate crude oil price with a floor of $40 per barrel resulting in a contract dayrate of $400,000 and a ceiling of $70 per barrel resulting in a contract dayrate of $500,000, subject to cost escalation.

⁽¹⁶⁾	The rig is owned by a joint venture in which the company owns less than a 100 percent interest. Dayrate reflects 100 percent of the contract rate.

⁽¹⁷⁾

The customer may elect to have the operating dayrate for the last five years of the contract fluctuate based on crude oil price with a floor of $458,250 corresponding to a crude oil price of less than or equal to $50 per barrel, and a ceiling of $558,250 corresponding to a crude oil price of $100 per barrel or greater.

⁽¹⁸⁾	The customer has the right to convert the three-year contract to a five-year contract until July 29, 2011.

⁽¹⁹⁾	At June 30, 2011, GSF Britannia, GSF Labrador, and G.H. Galloway were classified as held for sale. In July 2011, Searex 4 met the criteria for and was reclassified to held for sale. Transocean will no longer include these rigs in the Fleet Status Report.

⁽²⁰⁾	The contract with Rig Management Norway led consortium permits the rig to drill HPHT well(s) at $400,000 and to drill well(s) in the Barents Sea, Norway at $425,000. The contract also guarantees a minimum average dayrate of $403,000 during the firm term.

⁽²¹⁾	The contract includes three optional wells. The first optional well has a dayrate of $115,000. The dayrate for the second and third optional well will be adjusted based on market dayrates within specific parameters.

⁽²²⁾	Dayrate is fixed for first 6 months then subject to quarterly adjustment based on market dayrates within specific parameters.

⁽²³⁾	Dayrate subject to annual adjustment based on market dayrates within specific parameters.

⁽²⁴⁾	The dayrate for the June 2011 to August 2011 period and the entire option period will be $254,000 if the customer exercises both options included in the option period.

⁽²⁵⁾	The dayrate for the entire contract duration will become $370,000, excluding escalation and foreign currency component adjustment, if the customer exercises the option.

⁽²⁶⁾	Dayrate excludes tax amounts, to be determined, for which Transocean will be reimbursed.

⁽²⁷⁾	While the customer has the option to add any out of service days to the end of the contract, the Estimated Expiration Date does not reflect any extension due to this option until actually exercised by the customer.

⁽²⁸⁾	On July 6, 2011, the Transocean Marianas experienced an operational incident. We are in the process of evaluating the potential impact of the incident and will update any changes in the status of the rig in future reports.

⁽²⁹⁾

Reported segment includes mobilization or demobilization days from one location to another. The mobilization days shall be paid at a mobilization dayrate of less than or equal to half of the full operating dayrate. Once the mobilization has been completed, the mobilization days will be added to the end of the contract and the Estimated Expiration Date will be updated to reflect this extension.

⁽³⁰⁾	The customer has the right to extend the program in USGOM for another 6 months.

⁽³¹⁾	The customer has the option to extend the contract for an additional six month period at any time prior to October 30, 2012 at a dayrate with a floor of $85,000 and a ceiling of $130,000, to be mutually agreed upon between us and the customer at the time of exercise.


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

DISCLAIMERS & DEFINITIONS

The information contained in this Fleet Status Report (the “Information”) is as of the date of the report only and is subject to change without notice to the recipient. Transocean Ltd. assumes no duty to update any portion of the Information.

DISCLAIMER. NEITHER TRANSOCEAN LTD. NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED “AS IS.” Neither Transocean Ltd. nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of cause, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom.

No Unauthorized Publication or Use. All information provided by Transocean in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Transocean.

Customer Contract Duration, Timing and Dayrates and Risks Associated with Operations. The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension and delays for a variety of reasons, including some beyond the control of Transocean. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Transocean. Our customer contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in our filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC’s website at www.sec.gov. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, shipyards or recharges.

Out of Service Days (Shipyards, Mobilizations, Demobilizations,Contract Preparation). Changes in estimated out of service time are noted where changes in the time Transocean anticipates that a rig is scheduled to be out of service and not be available to earn an operating dayrate have changed by a period of 30 days or longer for High Specification Floaters or 60 days or longer for all other rig classifications since the previously issued Monthly Fleet Update Summary or Comprehensive Fleet Status Report. The changes to estimated out of service time included in this Fleet Status may not be firm and could change significantly based on a variety of factors. Any significant changes to our estimates of out of service time will be reflected in subsequent Monthly Fleet Updates and Comprehensive Fleet Status Reports, as applicable.

Contract Preparation refers to periods during which the rig is undergoing modifications or upgrades as a result of contract requirements. Shipyards refers to periods during which the rig is out of service as a result of other scheduled shipyards, surveys, repairs, regulatory inspections or other scheduled service or work on the rig.

In some instances such as certain mobilizations, demobilizations, upgrades and shipyards, we are paid compensation by our customers that is generally recognized over the life of the primary contract term of the drilling project, although such compensation is not typically significant in relation to the revenues generated by the dayrates we charge our customers. When mobilization or demobilization occurs during a contract period, we recognize revenues as earned. In instances where mobilization or demobilization time occurs before or between the start of a contract period, the stated estimated contract start date represents the expected commencement date for the primary contract term of the drilling project and the point at which we expect to begin recognizing revenues.

Forward-Looking Statement. The statements made in the Fleet Update that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements made in the Fleet Update include, but are not limited to, statements involving the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations and planned shipyard projects and other out of service time. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, shipyard delays, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, Transocean’s ability to enter into and the terms of future contracts, the availability of qualified personnel, labor relations and the outcome of negotiations with unions representing workers, operating hazards, factors affecting the duration of contracts including well-in-progress provisions, the actual amount of downtime, factors resulting in reduced applicable dayrates, hurricanes and other weather conditions, terrorism, political and other uncertainties inherent in non-U.S. operations (including the risk of war, civil disturbance, seizure or damage of equipment and exchange and currency fluctuations), the impact of governmental laws and regulations, the adequacy of sources of liquidity, the effect of litigation and contingencies and other factors described above and discussed in Transocean’s most recently filed Form 10-K, in Transocean’s Forms 10-Q for subsequent periods and in Transocean’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.

Fleet Classification. Transocean uses a rig classification for its semisubmersible rigs and drillships to reflect the company’s strategic focus on the ownership and operation of premium, high specification floating rigs. The rig classification “High Specification Floaters” is comprised of “Ultra-Deepwater” which refers to the latest generation of semisubmersible rigs and drillships possessing the latest technical drilling capabilities and the ability to operate in water depths equal to or greater than 7,500 feet, “Deepwater” which refers to semisubmersible rigs and drillships that possess the ability to drill in water depths equal to or greater than 4,500 feet, and “Harsh Environment” comprised of five of the company’s premium harsh environment rigs, the semisubmersibles Henry Goodrich, Transocean Leader, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The category titled “Midwater Floaters” represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet. The jackup fleet is subdivided into two categories; “High Specification” which consists of harsh environment and high performance jackups and “Standard”.

Stacking. An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels. A “Stacked” rig, on the other hand, is manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity. However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking.

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